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/ 14 October 2003
Sky-high insurance premiums are unlikely to come down in a hurry, industry leaders suggested last week. An insurance analyst expects an 18-month wait before any discernible change in premiums, while FSB deputy CEO André Swanepoel reckons current market conditions will continue for another year or so.
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/ 14 October 2003
The importance of curbing anti-competitive conduct cannot be overstated. The World Bank estimates the monopoly rent extracted from developing countries alone by a few international cartels prosecuted in the 1990s totalled $24-billion a year — nearly half the development aid provided to developing countries.
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/ 14 October 2003
The battle for the soul of Nail has "shaken up people who believed they are entitled to [Nail’s] media assets", says Fani Titi, CEO of Tiso Capital, the new frontrunners to secure the pioneering empowerment group. Titi added that the events of the past week showed growing "maturity" on the part of black business.
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/ 14 October 2003
The tax and exchange control amnesty applies to individuals, closed corporations and deceased estates. Bryan Hirsch, CEO of Pioneer Financial Planning, warns that assets in your own name internationally will now attract estate duty.
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/ 14 October 2003
For those choosing to repatriate funds in terms of the tax amnesty, the question becomes where best to stash the cash: money market funds, unit trusts, gold or property? And don’t count on the rand remaining strong forever.
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/ 14 October 2003
Those with illegal funds offshore thought they’d probably never be caught, but that’s no longer certain. The world is a different place today, particularly after 9/11 when many countries passed laws to snuff out funding for terrorists and criminals.
The amnesty for those who illegally spirited funds out of South Africa closes on November 30, and the advice from tax experts is ignore it at your peril.
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/ 14 October 2003
Cheeky humour has served the national director of public prosecutions well — at least until now. Bulelani Ngcuka is accused of being a central cog in a more complex plot, the outcome of which is the fatal contamination of the president and his deputy.
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/ 14 October 2003
Although the money market and capital markets are pricing in a 150 basis point cut on Thursday, an economist at Metropolitan Asset Managers said the South African Reserve Bank’s monetary policy committee should err on the side of caution. In particular, the economist was worried about the current account.
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/ 14 October 2003
The coach in charge of Australia’s powerful Olympic swimming programme has denied sexual abuse and stalking allegations by a former pupil. Former junior swimmer Emma Fuller has accused Australian Swimming high-performance director Greg Hodge of having a ”sick obsession” with her.
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/ 14 October 2003
If history is anything to go by, the odds are in favour of Ajax Cape Town for their Coca-Cola Cup first-round match against Dynamos at Newlands Stadium on Wednesday. The match, following the clash between Hellenic and Jomo Cosmos, is one the Urban Warriors should win — at least if past records are what determines results.